Strategies for surviving the volatile stock market

While precipitous market swings may put the Dow Jones industrial average in correction territory, financial experts say these kinds of moves are the sign of a healthy market. Pause before you panic and evaluate your short- and long-term goals.

The market sell-off may have given millennials flashbacks to a formative experience: The Great Recession. The drop in stock prices should serve as reminder to millennials that money you need soon should not be in stocks. If you’re in for the long term, it’s a different story.

With each passing day of stock market volatility, retirement savers have more to lose — a lot more. The number of Fidelity 401(k) savings accounts with a balance of $1 million or more jumped to a record 150,000 in the fourth quarter, up from 93,000 a year earlier.